Hey everyone, I put together a draft contract for Marshland Property Partners to take over operations of the I-10 Mobile Home Park & RV Resort. The structure is a management agreement with a future purchase option tied to occupancy. When you have a chance, please review it and let me know: @Seth Sundberg - Any suggestions or things I may be missing - Your thoughts on how to present this structure to the owner - What the typical process is for getting a management agreement like this in place I’d also like advice on how to position my experience going into the conversation: - Should I be fully transparent that this would be my first park of this size? - Or focus more on my business management, operations, and partnerships involved? My main selling points are: - Bringing active management to a distressed park - Increasing occupancy and filling RV pads - Improving revenue and property value - Creating a path for the owner to exit later at a higher value Also looking for guidance on: - Negotiation strategy - How to position my experience going into the conversation - What objections to expect - Timeline and next steps once management starts Since this is my first time structuring something like this, any insight would help.

Here’s what I’m thinking… Since I’m locked in on mobile home parks, I’ve been studying every possible angle to get into my first deal. I’ve talked to a bunch of park owners in my area and I know where they stand. Most of the distressed operators who are open to selling are asking way too much to acquire, so I’ve started digging into the master-lease route as an entry point. My idea: Start by signing a master lease on a small number of pads. I’d rent those pads out on a short-term basis and profit from the spread. If the model works and I have solid systems in place with 2–3 pads, I can scale up and negotiate a buyout option once the park hits a certain occupancy threshold. My questions: • What’s the cleanest, simplest way to structure this pitch to a park owner? • Do I need an attorney to draft the master lease agreement? • Are there any licenses, certifications, permits, or partnerships required to run this structure legally? • Should I start with just 2 pads for 30 days and treat that as a trial run?

@Terrell Istre would you do me a favor please? Can you go by 3201 2nd Avenue in Lake Charles and look at the building but more importantly: - look at and tell me what you think of the area and is it on its ascent or decline? - See what the demographics are of the tenant base and people going in/out of the property. Is it working professionals, sec 8 w busted cars in the parking lot or other? - Do you know any good Multifamily property managers in Lake Charles or anyone there that’s reputable who would? Thank you, i appreciate it. Seth

@Seth Sundberg Hey Seth, the broker called me, she asks me if you can use the LOI she sent over to you instead. I guess we have to use their LOI.

JJ Simmons 504-333-6173 @Terrell Istre